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Job turnover intention in Bangladesh _____________________________ Date: 15 July, 2010. Introduction: I present an organized set of stylized facts on the relations among flows of workers, changes in employment and changes in the number of jobs at the bank and securities level. Job turnover is usually measured by comparing stocks of employment in some banks at two points in time and adding up the absolute employment changes.
This measure is a just proxy for true job turnover because only 10 changes are counted. In this paper I use information that allows me to compare this proxy with the correct measure. I compare both of these measures to a measure of labor turnover that counts movements of individuals into and out of jobs. I find that: 1) Job turnover happens mostly for their salary; 2) These turnover happens mostly for their distance between work place and residence.
Most mobility is into and out of existing jobs rather than to created or from destroyed jobs; 3) A large fraction of all hires are by firms where employment is declining, and a large fraction of all layoffs are by firms where employment is expanding; 4) Some employees are hired in their job by offering them a better salary and better placement; 5) Some employees are turned their job only for brand name. Some Banking brands are so much important to their social life. Some turnover happens only for their promotion at their working area.
Job turnover is an attitude of an employee over a period of his/her job so the factors of job satisfaction and dissatisfaction changes over the period of time. However, in today’s business climate of continuous changes and uncertainty, the importance of job turnover to organizational performance depends on a relation between employee and customer relation. Job turnover is an attitude and measuring attitudes at workplace is not an easy task. The service sector in Bangladesh economy has started to grow recently and among the financial market banking sector is one of the most growing service sector in Bangladesh.
Over the years the market has seen immense opportunities in this sector and a lot of major players have joined this sector. The paradigm of the banking sector changed with the emergence online Banking and credit/debit card transfers etc. Objectives: I tried to collect some personal data to know the real turnover in Bangladeshi banks and securities. The main fact is to observe the turnover reason in Brahmanbaria and Sylhet regions. When and where they are going to change their jobs and how they are forced to do so.
Why they are switching their job from a better option to a lower position. How they are feeling with their new job and when they are going to turnover again. The main objective of the study is to identify and measure the various factors of job satisfaction among various commercial bankers, pharma, telecom services, security ltd. companies in Bangladesh and highlight the main findings by performing some personal techniques to judge the correlation and level of significance for the questionnaire.
Primarily pay has been considered as the major factor for job satisfaction and turnover, however other related factors like promotion, work efforts and the importance/challenge of the job are also taken into account. The banking sector in Bangladesh after changing rapidly into a services sector has a lot of emphasis on its customers both internal and external. A common phrase implied in the corporate world is that satisfied employees increase customer satisfaction and loyalty. Customer retention is highly dependent on how employees deal with customers.
Satisfied employees are more likely to be friendly, upbeat, and responsive which the customers appreciate. Dissatisfied employees can also increase customer dissatisfaction. Since there is a tremendous competition among various banks to increase the market share and get most of the business from the market, dissatisfying a customer can be very handy for a bank. There is a supposition that the less satisfied workers have a tendency to leave the organization while the satisfied employees remain and grow in the job. Method: I fully depended on the questionnaire to collect data.
The questionnaire is both open ended and close ended. I had an option to ask some more related questions. I followed the flow of the questionnaire and some techniques. I tried to manage ten banks one security ltd. company, one pharma and one telecom service employee who are willing to share their personal opinions on the topic of this questionnaire. Bankers were so busy and other sector employees were flexible to answer the questionnaire. Findings: I found that, securities employees are not so satisfied with their current job position and they are now willing to turnover again.
Banks employees are most satisfied with their salary and job security. Some of them are turned over for their family and some for better ranking. When a bank employee can get some better salaries, he always not try to turn his job. There are some reasons, banker wants to live with his family and close to the work place distance. Most bank employees are satisfied with their position as they expected. Almost all bank employees turned their job, because they joined their previous job as a fresher. So they were joined the job firstly got.
Bank employees are not seeking new posting or turnover. They are satisfied with their salary and they know that, their salary will be increase when they will be more experienced or promotion. In Bangladesh, bank job is more fashionable than other jobs. So they are turning their job sometimes to a better bank brand. Seven leading commercial banks, one Pharma, one telecom, one security company in Bangladesh were targeted in the vicinity of Brahmanbaria and Sylhet. The target audience was officer level bankers working as executives and other posts.
The diversity of the study is that it involves bankers of all age groups and career levels. Seven commercial banks namely Al Arafah Bank Ltd, National Bank, City Bank, Uttara Bank Ltd, Southeast Bank Ltd, AIBL, NCC Bank Limited targeted. A tested questionnaire has been used with a number of variables related to job satisfaction. Questionnaires were circulated among the bankers and their responses were collected. A total of ten questionnaires were distributed out of which ten questionnaires were filled by the Pay and Job Satisfaction, which is successful ratio in social research.
The major problems faced during the data collection procedure were mostly peoples’ unwillingness to fill and not taking this as a serious research. Another problem was that employees were reluctant to write the truth as their supervisors might know and would create problems for them in future. However, once they were realized that this effort is done purely for research purposes and their responses should not bear their identity as well as will be kept confidential then they filled the questionnaires with ease.
Conclusion: As I asked questions from the questionnaire, most employees were not ready due to their job pressure. In Bangladesh, employees are turning their job for better salary, better work place, better environment and better place to live with their family. Job turnover is to a large extent a self driven process which is only loosely connected to job creation and job destruction. Job satisfaction is a heavily researched area of inquiry. This report has focused specifically on one aspect of job satisfaction, explicitly, satisfaction with position.
The aim was to estimate the extent to which a banker’s job satisfaction is determined by comparisons with other banks as well as by other banking jobs. Most of the Bangladeshi banks do not see employee participation as a driver of better employee performance. Changes in organizational activity, such as pay scales, employee input in policy development, and work environment could be made in an effort to increase organizational commitment which in turn will lead to employee commitment and satisfaction.
Job turnover mainly depends on overall satisfaction of employees. today’s business climate of continuous changes and uncertainty, the importance of job turnover to organizational performance depends on a relation between employee and customer relation. So, telecom service sector growing up rapidly. Telecom service sector train their employee to satisfy all customer and so, the employees are successful; they are not willing to turnover as like as banking sector.
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